Interests

MUMBAI: The Companies Act 2013 , expected to be fully operational by April 2014, goes a long way in protecting shareholders' interests and removes administrative burden in several areas, a KPMG study said. The Act brings modern regulations for the corporate sector and attempts to align with international requirements, a KPMG- Assocham study on the new Companies Act said. There are many areas which are subject to rules that are to be issued under the new Act. The...

KUALA LUMPUR: Malaysian Prime Minister Najib Razak said Qatar and China have expressed an interest in the assets of debt-laden state fund 1Malaysia Development Bhd (1MDB), state news agency Bernama reported on Saturday. 1MDB, the centre of several investigations over graft and its management of funds, is seeking to offload assets parked under its power unit Edra Global Energy Bhd, and sell developmental rights in its high-profile property projects. ...

MUMBAI: Voicing concern over strong "behind the scenes" maneuvering by vested interests in the private sector, industry doyen Ratan Tata on Friday said it hurts the country's progress, stops reforms and makes the policies "toothless and ineffective. " "India is suffering from a very strong influence of vested interests, regrettably sometimes this is more often than not from the private sector...vested interests and political pulls are the two things that today I think apart...

Mumbai: Prime Minister Manmohan Singh on Friday asked market regulator Securities and Exchange Board of India to ensure that the interests of the investors are fully protected. "It is the task of the regulator to protect the interest of the investors. This is the primary task of any market regulator," he said after inaugurating the new building of SEBI here. Singh, however, praised SEBI's effort in ensuring orderly capital market in the country

MUMBAI: BofA Merrill Lynch expects the RBI governor Raghuram Rajan to pause on interest rates on Tuesday, await further clarity on the monsoon and allow its expected September 17 Fed rate hike to play out. At the same time, brokearge expects the RBI to strike a dovish note to reiterate that the door is open for further rate cuts to support growth. Looking ahead, the brokerage expects the RBI to cut another 50bp with inflation well set on its 'under-6%' January 2016...

NEW DELHI: Government auditor CAG today said state-owned utility Rural Electrification Corporation (REC) has suffered a loss of Rs 153.36 crore as it did not claim reimbursement of differential interest on soft loans. "REC Limited suffered loss of Rs 153.36 crore up to December 2014 as it did not approach the Ministry of Power to reimburse the differential interest on soft loans it had extended under...

Vijayawada: All India Kisan Sabha Vice President Kolli Nageswara Rao demanded that the Indian representatives, including Union Minister for Commerce Kamal Nath to protect the interest of Indian farmers at Geneva meeting being organised by World Trade Organisation (WTO) from June 29 to July 2. The present meeting was being held to finalise the pending agenda of Doha, which ended without any positive decisions, Rao told reporters here today. He said WTO was one of the main institutions which...

NEW DELHI: Times Internet today launches itimes.com, India's first interest network which empowers users to create interests or follow their favourite interests. The site has shifted its focus from general social networking towards interest networking centered around relevant topics and content. "Times Internet has over 32 million visitors every month who interact with our varied content offerings. Itimes.com is oriented around building communities around the topics people care to read...

NEW DELHI: Disapproving promulgation of an ordinance on the Patents Act, the CPM today said it would not protect domestic interests in its present form. With the government disregardful of most of the Left's suggestions, the CPM demanded further scrutiny of the amendment. The Left, which has been insisting on protection of public health and promoting access of medicines to people, is upset on two fronts — the government resorting to the ordinance route and the measure...

PATNA: Bihar Chief Minister Jitan Ram Manjhi on Thursday termed the Union Budget 'disappointing' as it neglected the interests of a backward state like Bihar. Stating that the funds allocated for agriculture were like 'a drop in the ocean', Manjhi told reporters that there should have been arrangements for insurance and banking facilities for agricultural labourers. The amount earmarked for power was meagre, while not much concern was expressed for...

MUMBAI: Reliance Communications has revived a plan to sell a stake in its tower unit, attracting early interest from U.S. private equity firms as well as sector rivals, three sources with direct knowledge of the matter said. Reliance Communications, India's fourth-biggest mobile phone carrier, is looking at a valuation of about $4 billion for the unit, which has about 45,000 mobile phone masts, the sources said. The stake sale is key for Reliance Communications,...

NEW DELHI: India has taken a major step to secure its interests in Afghanistan, where the recent Pakistan-mediated talks with the Taliban rebels had the backing of the United States and China. Officials said India passed a critical hurdle in building the proposed Salma Dam which will provide much-needed energy to Herat province from next year. After years of delay due to security and logistics constraints, the project entered a new stage on Sunday with...

PARIS: French gas and power group Engie could be interested in Iran's gas industry but would be careful before making any investments there, Engie chief executive Gerard Mestrallet told shareholders on Wednesday. Mestrallet's comments come just two weeks after Iran reached a deal with world powers that imposes curbs on Iran's nuclear programme in return for an easing of the international sanctions which have badly...

FRANKFURT: German lighting group Osram is attracting a lot of interest from potential partners or buyers for its lamps business, its chief executive said on Wednesday. But Olaf Berlien said there was much work to be done in carving out the business with more than 2 billion euros ($2.2 billion) in sales and 12,000 employees before a sales process could begin. "Because of this very complex carve-out and the many challenges we face, we are not in an active...

MUMBAI: Private sector player Yes Bank, which today reported 27.7 per cent growth in net profit at Rs 551.2 crore on higher core income in the June quarter, said it is looking at entering the mutual fund business possibly through an acquisition. Its core net interest income during the first quarter of 2015-16 rose 42.2 per cent to Rs 1,060 crore, while non- interest income moved up 32 per cent to Rs 413.6 crore. The bank's net profit during the April-June...

NEW DELHI: The Ethics Committee of the Lok Sabha has recommended that members should declare their business interests by signing a 'register of interest' like the existing system in the Rajya Sabha. A report submitted, after deliberations on the issue for over a year, said, "the committee, after elaborate discussion and taking into account views of the Chairman, Committee on Ethics, Rajya Sabha, as also distinct socio-political conditions prevailing in India, feel that the...

MUMBAI: Crisis-hit National Spot Exchange (NSEL), which is being probed several agencies for Rs 5,600 corore alleged scam, today said vested interests are trying to scuttle its proposed settlement plan to resolve this issue. It also defended promoter FTIL's former chairman Jignesh Shah saying he was not involved in any matter related NSEL. "Jignesh Shah is not involved in any matter related to NSEL and all the recovery efforts of the exchange are managed...

MANILA: A 18.99 billion pesos ($417.91 million) project to modernise a port in the southern Philippines has attracted interest from five groups, a government official said on Wednesday, with bids due to be lodged by the fourth quarter. The government aims to award the contract in April to develop, operate and manage the Davao Sasa port over a 30-year concession period. It will be the first public-private partnership project award by the government on Mindanao, an island blighted by...

NEW DELHI: Asserting that there is no reason to fear signing the 'conflict of agreement' understanding, former India captain Sourav Ganguly has said that the BCCI's move to make cricket a clean affair should be taken in the right spirit. After former president N Srinivasan was allowed to buy an IPL franchisee and later it became a controversy, the new BCCI regime is taking all necessary steps to improve its image. Ganguly, who was named in the BCCI...